The ideal price
The ideal price
The problem
The need to revise the pricing strategy and positioning in the online market
The customer (online retailer) wanted a daily overview of all prices of the competitive offers available on the market for an optimal price strategy. Due to the large number of articles offered online, it is very time-consuming for the customer to manually search for all offers.
The solution
A tool, which explores the price market situation internationally across many marketplaces, price comparison sites and online shops and at the same time adjusts its own prices according to individually defined rules
The solution: A tool that ejects an optimized price recommendation. By connecting the re-pricing tool to the merchandise management or shop system, the customer can control the price optimization from the lead system and always keeps the current overview of the market situation.
Illustrations
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Before
If, for example, an article on google shopping is opened manually, it takes about 20-30 seconds to see the current situation. Then in the next step you have to consider or calculate how the price should be adjusted. And then follows the transfer into the system.
Afterwards
- Time expenditure is extremely reduced. With an automated tool, this can be done in a matter of seconds - for thousands of articles simultaneously.
- Reliability and control over prices regained.
Insights
What had the customer tried before?
Research of all offers by hand.
Additional challenges at the customer
The comparison of own articles with articles of other manufacturers.
What criteria were important to him?
Technologically: Collection of data from different market places (ebay, amazon, idealo, google shopping) and control of price recalculation with one system.
Business
Benefits
- More sales (sales/turnover): experience shows that the growth rates for projects are between 10 and 42%, depending on the actual situation. (An advance consultation by the provider is offered).
- Increase profit (gross profit)
- Time saving through automation
The project schedule
- Providing an article list for testing
- Setting up the account
- Test phase with all functions
- Decision on further progress
- Start of the contract - Activation of the desired marketplaces/price comparison sites and transfer of all items to be observed
Project maturity level
Involved employees
(Operating phase, FTE)
Running costs
(per month, digits)
Involved employees
(Project phase, FTE)
Technical
The project schedule
- Customer selects articles (all or partial quantity) to be observed and a new optimal price is calculated.
- Supplier sets up the interface for (automatic) data exchange.
- Test phase: Customer tests the exchange and the results that are generated. Familiarization with all functions in the tool, settings e.g. setting up pricing strategies.
- During the two-week test phase, the provider provides support and advice to ensure that the customer's needs are covered.
- The customer decides whether the solution will be used beyond the test phase and clarifies all questions.
APIs/Integrations
API documentation (connection to own API is possible and there is an API documentation)
Plugins available for: Shopware, Magento, plentymarkets
Integrated tools for: JTL, microtech, VARIO
Pricefeeds can be completely self-managed
Where is the data located?
Data is stored on a cloud based Patagona server.